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FOX Business
Oct 19, 2012 1:00pm EDT
hsbc online service including internet banking. we are taking appropriate action working hard to restore service, we are pleased to say some sites are up and running. we are cooperating with relevant authorities and will cooperate with other organizations that have been similarly affected by such criminal attacks. other organizations like fox business covering this story before it was making headlines in some newspapers, we were in their last week when it was capital one, regions financial that got attacked and capital one got hit monday, and just the other day and now hsbc. one thing we want to talk about in regard to these attacks, there are links to this organization to islamic terror groups and there's the group anonymous, they claim to be behind some of this but sources are telling that these attacks have the fingerprint and signature of s hass hassam. you talk about these attacks becoming more sophisticated is like the board from star trek. they adapt to procedures instead of service attacks, the use entire web servers, allows them to concentrate the at
Oct 24, 2012 4:00am EDT
. >>> these are the headlines from around the globe. flash pmi data points to further weakness across the eurozone. hsbc's early pmi reading hits a three-month high in october. investors like facebook's third quarter results. shares jump 14% after hours as the company shows its aim to make some money off the mobile devices. we'll get more on that. meanwhile, vw says its nine-month group sales revenue, 27.9 billion is higher than the previous year. 144.2 billion. the nine-month operating profit is 8.8 and people are looking for that to be around nine billion. so the nine-month operating profit down 1.6% to 8.84, which reflects the technology overhaul and this slump that we're getting in the european auto market. but they are reaffirming their goals to increase vehicle sales and revenue for the group to match last year's operating profit. the shares rebounding slightly on that reaffirmation. meanwhile, one stock that is taking a hit, volvo. the firm missed expectations. also warned investors that it expects no growth in its main european and north american truck markets next year. also, ford expects to announce t
Oct 22, 2012 2:30pm PDT
. this is not uncommon. the credit crisis started just five years ago. last week was the anniversary. hsbc had to announce that they had to restate previous year's earnings because of losses in subprime loans. no one knew what a subprime loan was. everyone now has opinions on it, but that is the start of it. the recession we had was extremely severe, and it was a financial recession, and it takes a long time to recover out of them, but we are on the right trajectory, and that is the important thing in terms of the outlook for this economy. inflation -- this chart is the consumer price index, the broadest measure of inflation, and it goes back to 1975. many of you in you may remember the very high levels of inflation we had then. now, it is down around 2%. this is a level that is acceptable for the federal reserve bank, and it allows them to use their tools to try to stimulate the economy because they do not have to use those tools to try to fight inflation, but this is the concern -- housing. i love the start because it puts in perspective how bad the housing market was affected in this econom
Oct 29, 2012 7:00am EDT
accounts overseas at hsbc bank in geneva, many of them suspected of tax evasion through those accounts. the real anger is not towards him but towards, the towards who seems to have sat on this list for the lasted until years and not acted upon it. he says that the alleged tax evaders and ministers who received the list from christine lagarde in 2010 and of not followed up on it, he says they should be the ones focused on. the greek government simply is not serious about tackling tax evasion. >> have the ministers involved given any explanation for not following up on the list? >> two of finance ministers have spoken publicly about this. the finance minister in 2010 says he did pass it on to the tax officials but that when he left the post it seems to have been lost, the cd containing the list. his successor says that he deemed it inappropriate to follow up, partly because it was detained unlawfully a leak by a bank employee in geneva. that is not washed with public with public opinion here. greeks don't like their politicians. there's a lot of anger against the political class for "lin
Oct 4, 2012 4:00am EDT
expanded at a very fast clip. also as per the commentary that the hsbc got, the company optimistic on the outlook and even the composite pmi has stood at 55 in september, was 54.3. but apart from that, all eyes will be what comes out of the cabinet meeting today. back to you. >> thanks so much for that reema. so let's talk spain again. spain should see yields drop at a dealt auction this morning. hard to say that string of words. they're auctioning debt and hopefully we'll see the yields coming down a little bit. those results due around 10:40 cet. expectations that the government will make a bail outquestion have helped keep borrowing costs low. investors still wary about prospects. for the first time since 1995, the company's lenders have more spanish sovereign debt than their foreign counter parts. does it make a difference who owns the debt and is the tipping point between domestic and foreign ownership? >> i think will is an issue that i guess probably most need foreign investors buying debt. they need outside investors to support their bond market. what you see in spain, thou
Oct 8, 2012 4:00am EDT
the mainland services sector can help offset weakness in the manufacturing side. hsbc also says early easing measures and stronger consumption demand may have helped world bank is warning it needs to brace for slow growth. it's their slowest pace since 2001. it's because of the exposure to china which also had its outlook cut. joining uses for more, norman chan. norm, good to see you. the world bank downgrade just seems to be catching up with where everybody else already is. what do you make of that services pmi number? how much do we put into that bearing in mind the weakness we've seen in other surveys? >> yes, i think this is a nice surprise. the weakness in manufacturing and exports are still true, but on the other hand, i think the services numbers shows that the domestic consumption side is doing better than expected. and even the pmi numbers from the hsbc is showing that it has rebounded from recent note and that the services sectors is not directed by the manufacturing sector too much. so, yes, in the near term, the domestic economy and the overall gdp numbers will still remain weak
Oct 17, 2012 4:00am EDT
for the last two and a half years. and it's not a bad strategy. it's a strategy copied by hsbc, and hsbc's share prices have been outperforming citi. >> when do you think we'll actually find out what really happened? are we really any closer to finding out? >> i don't think we are. i guess it's water under the bridge now. now investors need to decide whether citi is more of a buy today than it was two days ago, and i think new ceo doesn't necessarily make it so. >> where does this leave the investment banking unit? >> well, i think i'd be a little bit vulnerable if i was in investment banking, much like if i was an investment banker at barclays. i don't think investment banking is in the new ceo's dna necessarily and i think there's a worldwide push to try and make banks like citi and like barclays more friendly, fuzzy, consumer-friendly, politically friendly and less master of the universe like. >> it certainly seemed as though the fed's decision was part of the reason why the board was pretty unhappy. in terms of strategic moves going forward is that one o'of the key ones? >> whether y
FOX Business
Oct 19, 2012 11:00am EDT
responsible before tax going on this week and the most recent victim, hsbc. moving out of the united states hitting banks in other parts of the world. here's the statement we got from hsbc. the denial of service attempt to not affect any customer data but preventive service customers usc services including internet banking. we're taking appropriate action, we are pleased to say some sites are now back up and running. we are cooperating with the authorities and will cooperate with organizations similarly affected by such criminal acts. take a look at who has been hit in the past couple of weeks. using capital one, suntrust, regions financial, capital one again this week, dvd, and of course hsbc. the quick credit to the reporters at the fox website who have been in touch with cyber security personnel. there sources that the group anonymous claiming to be a part of this may be a part of it, but this is still half the fingerprint. dennis: classy sharing of the fault. sandra: all right, adam. thank you. candidates facing off monday on foreign policy. we bring in the big gun, former defense secre
Oct 23, 2012 4:00am EDT
by reverse repo offerings today and tomorrow we'll have the latest gauge on the growth track when hsbc releases it flash data due at 3:45. so where does this leave growth in asia? joining us first on cnbc is managing director for general asian development. thanks very much indeed for joining us. you down graded your asian growth forecast to 6.1% in 2012. here's the thing. a lot of people would say it rebounds next year. others think growth in the world next year is going to be even weaker. what do you think? >> we think the growth next time in 2013 will show an uptick 6.7% from 6.1 this year. i think it's important to realize that there are risks and the major risks are of course the euro crisis and what's happening in the u.s. fiscal cliff. those are very major external risks. there are -- china is not going to grow at the double digit rates we've seen in the last several decades. india is going to show moderation in growth. so there's a softening of demand internally within asia. external factors are weaker. so i think well see lower growth, but it's still going to be a fairly handso
FOX Business
Oct 8, 2012 9:00pm EDT
that follow-through you want to know where they go? the answer. number five, hong kong. according to hsbc the country ranks number one among expatriate's organized health care. bermuda. not bad. boasting the most disposable income, most jobs, and thus whether to be number three, the cayman islands. voted number one in overall experience thanks to things like the most holidays, the most organized finances faugh, easiest to find accommodations and ability to learn the language. number two, thailand. featured in the latest takeover flick. the best social life and the most people with more than one property. another one place this singapore. this country was voted number one overall in economics, including incumbent, utility access and local transportation. it turns out people don't go to canada any more. fracking number 21 lowest. i will never leave here. and not going to be in next pat. coming up next, unemployment nearly 8% to mate may seem like there are no jobs, but one industry has the answers. red light cameras are popping up all across the country. what is being done to make sure your
FOX Business
Oct 20, 2012 12:00am EDT
-based hsbc is the latest vicm but this time there was no warning. this is e four bank tis week, just this week to get hit andmy next guest is going to show us how hackers are ableto set it up. moan wright is cyber terror analyst. welcome bk to the show. >> thank you. melissa: before we set up the how-to,does that mean i won't want it anymore, hue effective if they wa us and maybe they saw the show an decided not to warn us? >> it is still effective marketing. you change your tacts and now the story is the change of tactics which is exactlyly wh we're covering. >> that's agreat point. the hackers are basically outsourcing now, is that what is going on? >> they, this group, which shall remain unnamed as we agreed last time, does not and never had the tech call capability to launch these attacks. what they now did you can outsource your attacks on web sites using tools provided by oups like a anonymous. messa: that is amazing. how do they find each other? >> well it is on, very polar irc, internet real lay chat. one of the arties i sent to your producer a we were going over this from a
Oct 11, 2012 1:00pm EDT
,800 level but hsbc's jim steele says the path of least resistance right now looks to be lower because gold has been unable to break through that level. we'll continue to watch whether we get back to those high and in terms of other metals, keep your eye on copper. copper is the biggest gainer on this session but those gains may be limited as of course we are seeing so many reports about the slow growth coming out of china. back to you. >> thanks, sharon. >>> let's go to bob pisani here with me on the nyse floor. >> 3-1 advancing to declining stocks. narrow trading range but a lot of action today in the energy sector. morgan stanley making a very bullish call on natural gas earlier in the morning. they're talking about $5 gas as a possibility here. you see all the nat gas stocks up. demand has been elevated. inventory is moving from a surplus to a deficit. they talk about for natural gas stocks. interestingly this is also moving coal stocks to the up side. why would coal stocks move on this? remember, there's been a lot of switching from cold to natural gas recently. you might slow that dow
Oct 17, 2012 1:00pm EDT
an some traders say that could cause a breakout and perhaps a breakout to the up side. hsbc raising its price targets today, specifically for the 2013 year. they're saying that we're going to see gold prices at $1,900 an ounce by the end of the year. that's a raise that they've seen there for the gold price. that's by the end of this year, rather. $1,900 by the end of this year. copper prices also breaking out after we got that positive data on housing starts. that certainly has helped that market. and we definitely saw an immediate reaction there. industrial commodities benefiting from that news about the u.s. economy. simon? back to you. >> thank you very much, sharon. >>> if you look to the headlines on the equity market today, they're relatively inauspicious until you notice the levels at which we're trading. 1,460 for example on the s&p. bob pisani has more on the markets. >> it is that creeping rally that we've been getting for days now. we closed at the highs yesterday, second day in a rose. euro is strong today. the your video on the verge of a breakout, multi-month highs here,
Oct 16, 2012 10:00am EDT
at the end of the third quarter. hsbc got burned on money laundering. barclays messed up on libor. they say they did not know what was going on. well, these guys were in london and that's a long way from zurich. whatever the story, it takes back off of the table and it reduces this down to a much more reasonable level. the idea that you should be able to fail, that is what he is saying. it's incredibly unfair and unreasonable to not have a situation where the small guys are on their own and the big guys are protected getting the subsidy. they will just get bigger and the problem will become worse. >> i want to go back to the question of too big to fail because i think it's extremely important to understand why it's not a good idea to break up the big banks unless we get some real benefit for it. i still have not understood the benefit of this. the benefits, if i understand you correctly, is they will reduce the risk of getting themselves in trouble. we reduce their complexity, for example, but it is that enough of a reason to create the kind of disruption and the precedent that it would cre
Oct 3, 2012 4:00am EDT
, while hsbc is out next monday. that's all from me. >> thank you very much. >>> coming up on today's show, we head to paris to find out more, the attempts to offload his unit. then to hong kong where we examine the political transition in china plagued by scandals and disappearances. we get an expert view on the new leadership change. >>> and next, washington and its debate tonight as romney and obama finally square off. we'll have a preview of what to expect and what's at stake with our very own democrat-republican panel. >>> and real estate is on the rise. we head to new york with founder barbara corcoran. mariano rajoy has denied reports that spain will request a bailout. the spanish prime minister joked that news agencies either knew more than he did or that they were, in fact, wrong. meanwhile, moody's rating agency said it will publish a review into spain's credit rating at some point this month. all spanish tax revenues have jumped significantly from precrisis levels due to a high incide incidents -- and seeking profits abroad as domestic demand wanes. just over $16.5 billion euros
Oct 22, 2012 4:00am EDT
. chief investment officer at hsbc capital joins us from the united states. stanley, nice to see you. where will this lead us? if we're seeing revenues come in a little lower than we thought, there's a concern about a squeeze on margins, as well. >> good morning. good to be back with you. this is the continuing after math of the bursting of a cyclical credit bubble. and that his tore he can nily hs taken a number of years to fully reflate itself. central banks are doing a lot to shovel more coal into the furnace, but the furnace has to be utilized. demand destruction is fairly natural. so actually we've done better than we might have done hadn't these actions been taken. so i'm not much of a critic because the only thing they could have done is what they've done. i will say, though, the overhang of what i call the freckled swan, that's the swan that's got patches of all the known problems sort of comes into view and shifts the sent chlt. and i think we're really at that precipice particularly in europe. how long can this continue. and i saw very little progress last week out of the e
Oct 8, 2012 6:00am EDT
five years. you have positive economic signs from china. hsbc service rose from the highest level since may but the world bank is cutting assumptions for growth for china, probably the more powerful china story. >>> negotiations condition between dish network and gannett. at 2:00 p.m. eastern time the deadline passed without agreement but the two sides agreed to keep talking. dish carries gannett stations in 19 cities. >>> unitedhealth care combined with amil, paying $4.9 billion in cash for 90% of amil's outstanding shares. >>> and the house intelligence committee saying that american companies should avoid doing business with china's two leading technology firms because they pose a national security threat, a year-long probe suggests that huawei technologies and zte corporation both suppliers of telecom equipment and mobile phones oppose a security risk and the equipment could be used for spying. the committee recommends the government systems should not include any components made by the companies and they may have violated some u.s. laws. it is likely to become fodder for the u.s. p
Oct 19, 2012 2:00am PDT
. capital one, bb&t and hsbc banks reported cyber attacks that affected their websites. computer security experts say it doesn't look like any money or customer information was stolen but this is the fifth straight week of these attacks. >>> 37 minutes past the hour. striking beauty and a wicked sense of humor. i'm going to go one-on-one with vivica fox to talk about her new show "prank my mom." you won't believe how far this lady will go for a laugh. my next of kin. at 33 years old, i was having a heart attack. now i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. i didn't know this could happen so young. take control, talk to your doctor. i didn't know this could happen so young. i don't know what shape that is .. but it's not round.. so why would headphones be round? they should be shaped like this.. 'earshaped'. you know .. so they fit in your ears. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am
Oct 24, 2012 2:00am PDT
far this year. >> new data from hsbc shows china's manufacturing sector hitting a three-month high. the report says demand for chinese-made goods is atsy six-month high also which signals there is some strength in the global economy. >> here's the bad news. do you feel like college is getting more expensive? you are absolutely right. the cost for public college hit a new high this year, this is according to the college board. the average overall cost without financial aid rose $3.8% to a new record $22,261. the college board says the cost of college has been rising faster than inflation in recent years and it's because states have been cutting financial aid, and at the same time more students are enrolling in those public colleges. >> if that's not enough, get ready to pay more for your thanksgiving flights this year, also. travelocity says airfare over thanksgiving is expected to be 9% higher than last year. that's according to a report in "usa today." if you're looking for a flight between november 17th and 27th you're likely to shell out $386 round trip for a domestic flight. ex
Oct 1, 2012 4:00am PDT
data overnight from china show its factory sector slowed last month, and a report from hsbc says new export orders declined last month with the sharpest rate in 3 1/2 years. soledad, china has fashioned itself into the factory for the world. when china's manufacturing slows, everyone worries. >> all right, christine, thank you for the upset. >>> it's what everybody's talking about this morning, arnold schwarzenegger says that his life were a movie, nobody would believe it. from body builder to movie star to governor of california, his new book is called "total recall." it's out today and it details his entire life, including the now infamous affair with his house keeper that led to the breakup of his marriage with maria shriver. schwarzenegger talked about that affair in an interview with "60 minutes." >> i think it was the stupidest thing i've done in the whole relationship. it was terrible. i inflicted tremendous pain on maria and unbelievable pain on the kids. >> margita thompson was a press secretary forren or old schwarzenegger during his first term as governor. nice to see you.
Oct 27, 2012 9:00am PDT
being setting for "national anthem's last resort. the cayman islands has come out first in new hsbc ranking of the friendliest countries. the survey is based on how ex-pats feel when they're living there. australia second, canada third and the u.s. ranks sixth. this is not so friendly. jets quarterback tim tebow, you've heard of him, right? in the new "sports illustrated" survey of nfl players, tebow is named the most overrated player in the league. ouch. and finally the late elizabeth taylor is topping forbes's new list of top earning dead celebrities. comments from a christie's auction of her prized possessions. michael jackson comes in second with 145 million. elvis presley the king brought in about a third of that to rank third. peanuts cartoonist charles shulz with 37 million and reggae legend bob marley. ♪ ♪ ♪ ♪ ♪ [ girl ] hey! [ both laugh ] ♪ to bring you a low-priced medicare prescription drug plan. ♪ with a low national plan premium... ♪ ...and copays as low as one dollar... ♪ ...saving on your medicare prescriptions is easy. ♪ so you're free to focus o
Oct 26, 2012 8:00pm EDT
for a different illustration. they cannot be managed by the shareholder. we can talk about hsbc and money-laundering. we cannot be managed or understood by the creditors. we have any number of failures across the european big bank to look out for that. they cannot be managed by the regulators. the largest banks in the world and in the united states should be made smaller. smaller enough and and simple enough to fail. no funding advantage. these -- there is not a market. there is nothing about the market in the structure. it is a vast nontransparent dangerous government subsidize scheme. you, the american taxpayer, directly indirectly through the federal reserve stand behind the balance sheet and the risk of jpmorgan chase whether you like it or not. this encourages them to get bigger. this encourages them to take more risk. they get the upside, the downside is someone else's problem. in a world with these uncertainty, in the world with the mark economic risks, in a world with so little capital in financial institutions, including in leading american based global mega banks. in this world,
Oct 1, 2012 6:00am EDT
quarter of slowing growth. hsbc china manufacturing purchasing manager index revealing a near year long decline in business activity and a fresh fall in export orders in september. mr. kernen, how was your weekend, sir? >> it was fine. thank you. i was very invested. i was invested in every swing. and i had some -- i was unsettled. i'm still a little unsettled. in corporate data, extending treatment with roche's is not worthwhile, but shortening the treatment also looks unlike will to benefit patients even more. the results limit the down side risk for roche's revenues at least. and a crucial vote today in boeing contract talks. a vote will show whether workers are willing to accept a less dependrous contract offer by boeing or move closer to a strike. the union is widely expected to vote down the current offer, but local officials and analysts consider a strike unlikely. and nokia is set to announce a new deal giving oracle customers access to nokia's map services. the agreement would be announced today at the oracle world conference. i've never known that maps would be so important in
Oct 4, 2012 9:00am EDT
bank. some of the largest banks in the country are owned by european banks. hsbc's the tenth largest bank. deutsche bank would be collectively the sixth largest bank. if you want to go down the list a little further -- now a parent does not mean if you have a problem in europe, the united states has a problem. but if there's a problem in europe, the parent might be less risky or not wants to tag loans. so it's critically important for europe, to the banking system for starter. >> and i totally agree. i think when we frame this issue, we need to frame it on the context that there's a lot more at stake with regard to capital and how capital investment. so what you're really talking about is the parents trickle balance sheet issue. if the parents are tightening their belt, it's hard to thing they're working in a robust fashion. we're in agreement there. >> sure. >> slet's take it a bit farther. it's ongoing. spain hasn't even asked for bailout, so every day these reforms, the metric change. >> that's true. they do charge and it's been very difficult to try and get ahold of it but that's
Oct 16, 2012 6:00am EDT
correct and hsbc's card portfolio. we think that there is a lot of up side to the stock. there's a lot of accounting related noise. and i think as the story is better understood, the stock should do well. it trades at eight times our forward number. and if you look at comparable bank, they trade at 10 to 12 times. and we think similar multiples are wasrranted. >> how does ebay fit in, is that pay pal? >> that's right. pay pal will become 50% of their business. that call has worked out pretty well. we think there's more room for ebay to agree and there's a thee theme of convergence and ebay epitomizes that story. >> sanjay, thanks very much for your time today. >> thank you. >>> and becky and i are l. hewi over to the chairs and the stories catching our attention. and then the firm manages more than a trillion dollars in asse assets. so what can the rest of us learn the from black rock. we'll ask the investment team. >>> tomorrow, rating tonight's debate. whether another strong performance from mitt romney give him the edge or will the president come out swinging? we'll continue our squ
Oct 31, 2012 9:00am EDT
by their shareholders -- we can talk about hsbc and standard chartered, money laundry -- they cannot be managed or understood by their creditors. we have any number of failures across the european big banks to look at for that. and they cannot be managed by their regulators, by their supervisors. the largest banks in the world and in the united states should be made smaller, small enough and simple enough to fail. no funding advantage. these -- this is not a market. there is nothing about a market in the structure. it is a vast, nontransparent, dangerous government subsidy scheme. you, the american taxpayer, directly or indirectly particularly through the federal reserve stand behind the balance sheet and the risks of jpmorgan chase whether you like it or not. this encourages them to get bigger. this encourages them to take more risk. they get the upside. the downside is someone else's problem. in a world with these uncertainties, in a world with these macroeconomic risks, in a world with so little capital in financial institutions including in leading american-based global megabanks, in this w
Search Results 0 to 31 of about 32 (some duplicates have been removed)